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Principles of Consolidation - Summary of Redwood's Interest in Third-Party Variable Interest Entity's (Details) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Variable Interest Entity [Line Items]    
Real estate securities [1] $ 364,320 $ 344,125
Other assets | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 214,263 200,801
Other assets | Senior | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 9,888 11,131
Other assets | Mezzanine | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 0 2,014
Other assets | Subordinate | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 191,108 173,523
Other assets | Total Mortgage-Backed Securities | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 200,996 186,668
Other assets | Excess MSR | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities $ 13,267 $ 14,133
[1] Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At March 31, 2021 and December 31, 2020, assets of consolidated VIEs totaled $7,724,203 and $8,141,069, respectively. At March 31, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $6,704,943 and $7,148,414, respectively. See Note 4 for further discussion.